New Issue: Stora Enso prices €500 million 5½% seven-year notes at mid-swaps plus 362.5 bps

By Paul A. Harris

Portland, Ore., Feb. 29 - Finnish paper and forestry products manufacturer Stora Enso priced a €500 million issue of 5½% seven-year bonds (Ba2/BB/) at a 362.5 basis points spread to mid-swaps on Wednesday, according to market sources.

The spread came on top of spread talk.

Citigroup, Deutsche Bank AG, Goldman Sachs and SEB Bank managed the sale.

The Helsinki-based company plans to use the proceeds for general corporate purposes, including refinancing of a bond maturing in 2014.

Issuer:	Stora Enso
Amount:	€500 million
Maturity:	March 7, 2019
Securities:	Bonds
Syndicate:	Citigroup, Deutsche Bank AG, Goldman Sachs International, SEB Bank
Coupon:	5½%
Price:	99.824
Yield:	5.531%
Spread:	Mid-swaps plus 362.5 bps
Trade date:	Feb. 29
Settlement date:	March 7
Ratings:	Moody's: Ba2
	Standard & Poor's: BB
Price talk:	Mid-swaps plus 362.5 bps
Marketing:	Quick to market

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